I did some profiling in C# a while back, comparing the following:
1)LINQ to Objects.
2)Lambda Expressions.
3)Traditional iterative method.
All 3 methods were tested both with and without Regular Expressions.
The conclusion in my test case was clear that Regular Expressions are quite a bit slower than non-Regex in all 3 cases when searching for strings in a large amount of text.
You can read the details on my blog:
http://www.midniteblog.com/?p=72